From Grant Wasylik: Internet companies made up 0% of the S&P 500 in 1996. Today, they account for close to 10% of the S&P 500.
Whether it’s “FANG,” “FAANG” or “FANG and Friends,” U.S. internet and e-commerce companies have been growing like gangbusters.
Their stocks have been on fire, too. Through the first half of this year, Facebook (45.5%), Amazon (27.8%), Netflix (34.5%) and Google/Alphabet (18%) all roared past the S&P 500 (9.8%) in terms of total returns.